LogicGate, a Chicago, IL-based platform for businesses to automate risk and compliance operations, closed a $1.9m funding.
Backers included Chicago Ventures, OCA Ventures, Hyde Park Venture Partners, MATH Venture Partners, Techstars Ventures, Firestarter Fund, Sandalphon Capital and Connetic Ventures.
The company intends to use the funds to grow sales and marketing and accelerate expansion of the platform.
Founded in 2015 by Matt Kunkel, Jon Siegler, and Dan Campbell, LogicGate provides a platform that allows businesses to automate risk and compliance operations by visually designing their end-to-end workflows and deploying them as controlled process applications, without writing code. Future plans include implementing an intelligent learning engine which can actively learn how organizations interact with processes and can take corrective action without employee intervention.
Clients use the platform for activities such as enterprise risk management, regulatory compliance, and control assessments.